TeachMeFinance.com - explain Limited Partnership
limited partnership -- a partnership that consists of at least one general partner who is fully personally liable for the debts of the partnership, and one or more limited partners who are each liable only for the amount of their own investment.
Limited Partnership -- A partnership in which at least one of the partners is a general partner who conducts the business and has personal liability for the partnership debts, and at least one of the other partners is a special partner who shares in the profits and losses but their liability is limited to the sum they contribute to the partnership.
Limited partnership -- A partnership consisting of general and special partners, the general partners managing the business and the special partners contributing capital with liability limited to the capital so contributed.
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